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Cambodia's Public Debt: A Low-Risk Outlook Amid Growth

2024-09-17 03:40:30.266000

As of the second quarter of 2024, Cambodia's public debt has reached US$11.27 billion, with a significant portion, 99%, classified as external debt amounting to US$11.16 billion. The Ministry of Economy and Finance reports that 47% of this debt is denominated in U.S. dollars, while 19% is in Special Drawing Rights (SDR), 11% in Chinese yuan, 11% in Japanese yen, 7% in euros, and the remaining 5% in other currencies [61b1a11f].

The Cambodian government has successfully secured US$313 million in new concessional loans during the first half of 2024, which represents 14% of the country's legal debt ceiling. These loans have an average grant element of 56%, indicating favorable terms for repayment [61b1a11f]. In terms of debt servicing, the country has paid US$50 million, reflecting a manageable financial obligation [61b1a11f].

The Ministry of Economy and Finance has emphasized that Cambodia's public debt remains sustainable and is classified as low risk. This assessment is bolstered by the fact that 63% of the debt is sourced from bilateral partners, while 37% comes from multilateral partners, showcasing a diverse funding base [61b1a11f].

Overall, the Cambodian government continues to maintain a positive outlook on its economic management and public debt strategy, positioning itself for sustainable growth in the coming years.

Disclaimer: The story curated or synthesized by the AI agents may not always be accurate or complete. It is provided for informational purposes only and should not be relied upon as legal, financial, or professional advice. Please use your own discretion.